How a U.S. "border tax" could hit your wallet

  • A number of companies are warming up to President Donald Trump's proposal of a 20 percent border tax, which he claims is going to spur companies to build items in America and hire U.S. workers. The proposal has pitted consumer-facing companies like Target (TGT), Walmart (WMT) and Best Buy (BBY) -- and more than 100 others -- against domestic heavyweights like Boeing (BA), Caterpillar (CAT), Honeywell (HON) and Raytheon (RTN), which make a substantial portion of their profits through exporting.

    If the tax passes, companies that rely on imports will have to either try to save money by moving production into the U.S. as much as they can or by passing on the tax to consumers in the form of higher prices. The first option would take quite some time to put in effect, while the second would take only days. (Companies could also choose to eat the higher costs and reduce their profits, but it remains to be seen how many will take that option.)

    Read on to see the top imports that Americans have come to depend on, and how hiking their costs would affect shoppers.